Orthocell (ASX: OCC) has achieved a significant milestone by recording its first sales of Striate+™ in Canada, following regulatory approval from Health Canada in early July. Striate+ is utilized for dental-guided bone and tissue regeneration, and its entry into the Canadian market, valued at approximately AU$60 million, marks a rapid transition from approval to revenue generation. The global market potential for Striate+ is estimated to exceed AU$1 billion. The product has already demonstrated strong performance in the US, EU, UK, and Australia, supported by a remarkable 98.6% success rate from a post-market clinical study.
Orthocell is also accelerating its expansion efforts, with regulatory approvals for Striate+ anticipated in Brazil and Singapore within the next 6-12 months. The company reported record revenue of AU$6.76 million in FY24, reflecting a 30.76% year-on-year increase, including AU$1.84 million in the June 2023 quarter.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
